Reports related to this article:
Project(s): View 6 related projects in PECWeb
Plant(s): View 6 related plants in PECWeb
en
Like some other U.S. power companies, Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) is aiming for net-zero carbon emissions in the coming years. The company has a goal of net-zero emissions by 2050 and is taking great strides to achieve this milestone, including wind and solar projects throughout its service area. In addition, the company is phasing out some of its coal-fired power and implementing additional natural gas-fired investments in its home state of North Carolina.
Click on the image at right for a breakdown by state of active Duke Energy projects.
In Thursday's fourth-quarter conference call, Duke Chief Executive Officer Lynn Good talked of the company's accomplishments in 2020 and its goals for 2021. Good said that in 2020, the company significantly expanded its renewables footprint, announcing more than 700 megawatts (MW) of solar and wind energy projects. "We begin 2021 with a clear vision for the future to lead the clean-energy transition in our communities. Our goal is captured clearly in our climate strategy that leads to 50% carbon reduction by 2030 and net-zero by 2050. We crossed a major milestone in 2020, surpassing 40% carbon reduction from 2005 levels, and we're poised to hit more milestones in the years to come."
As Duke works to reduce emissions, in addition to implementing renewable energy projects, it is phasing out coal-fired power. In Terrell, North Carolina, Duke is nearing the end of a conversion from coal to natural gas at its Marshall Power Station. Four units totaling about 2,000 MW of capacity will be converted. In addition, a six-mile natural gas pipeline is being constructed to supply the plant. The project kicked off in late 2019, but was delayed in 2020 by the COVID-19 pandemic. It is planned to be completed in the coming months. For more information, see Industrial Info's project report.
Duke also is beginning the demolition and dismantlement of the 964-MW coal-fired Crystal River South plant in Crystal River, Florida, about 80 miles north of Tampa. Accelerated Decommissioning Partners LLC (Dallas, Texas) is providing engineering, procurement and construction (EPC) services on the project, which is set to be completed by the end of 2022. For more information, see Industrial Info's project report.
As it reduces its coal-fired footprint in Florida and North Carolina, Duke is implementing solar projects in both states. Examples include the 69.3-MW Maiden Creek solar project in Maiden, North Carolina, which will use an estimated 315,120 Jinko solar modules on a single-axis tracking system. SOLV (San Diego, California) is providing EPC services on the project, which kicked off late last year and is expected to wrap up in the second quarter. For more information, see Industrial Info's project report.
In Florida, Duke is constructing several 74.9-MW solar facilities, such as the Charlie Creek solar project near Zolfo Springs, about 70 miles southeast of Tampa, which will use an estimated 235,000 First Solar (NASDAQ:FSLR) Series 6 thin-film modules on a single-axis tracking system. Construction is expected to kick off this summer and be completed in first-quarter 2022. For more information, see Industrial Info's project report.
Outside of these states, Duke is implementing wind power, such as its plans for a wind project in Ledyard, Iowa. The facility will use 56 4.2-MW wind turbines to generate about 235 MW. Construction is planned to begin later this year, taking about a year to complete. For more information, see Industrial Info's project report.
Duke also has about $400 million in active hydropower projects in South Carolina and Indiana. At its Bad Creek pumped-storage hydropower station in Salem, South Carolina, Duke is underway with the upgrade of four turbines. The turbines are being replaced and the generators rewound to increase generation by 200 MW and extend the service life. The project kicked off in the first half of 2019 and is expected to be completed in late 2022. For more information, see Industrial Info's project report.
In Indiana, Duke is approaching completion of a generator uprate project at its Markland Hydropower Station near Florence. The project entails uprating three 22-MW General Electric (NYSE:GE) (Boston, Massachusetts) Kaplan turbine-generators by replacing the runners and rotor rewinds to increase generation by 3 MW each. The project kicked off in third-quarter 2017 and is expected to be completed this summer. For more information, see Industrial Info's project report.
Duke reported a fourth-quarter 2020 net loss of $77 million, primarily reflecting the settlement of a coal ash case in North Carolina. Adjusted earnings were $777 million for the just-passed quarter, compared with adjusted earnings of $678 million for the corresponding quarter of 2019.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Click on the image at right for a breakdown by state of active Duke Energy projects.In Thursday's fourth-quarter conference call, Duke Chief Executive Officer Lynn Good talked of the company's accomplishments in 2020 and its goals for 2021. Good said that in 2020, the company significantly expanded its renewables footprint, announcing more than 700 megawatts (MW) of solar and wind energy projects. "We begin 2021 with a clear vision for the future to lead the clean-energy transition in our communities. Our goal is captured clearly in our climate strategy that leads to 50% carbon reduction by 2030 and net-zero by 2050. We crossed a major milestone in 2020, surpassing 40% carbon reduction from 2005 levels, and we're poised to hit more milestones in the years to come."
As Duke works to reduce emissions, in addition to implementing renewable energy projects, it is phasing out coal-fired power. In Terrell, North Carolina, Duke is nearing the end of a conversion from coal to natural gas at its Marshall Power Station. Four units totaling about 2,000 MW of capacity will be converted. In addition, a six-mile natural gas pipeline is being constructed to supply the plant. The project kicked off in late 2019, but was delayed in 2020 by the COVID-19 pandemic. It is planned to be completed in the coming months. For more information, see Industrial Info's project report.
Duke also is beginning the demolition and dismantlement of the 964-MW coal-fired Crystal River South plant in Crystal River, Florida, about 80 miles north of Tampa. Accelerated Decommissioning Partners LLC (Dallas, Texas) is providing engineering, procurement and construction (EPC) services on the project, which is set to be completed by the end of 2022. For more information, see Industrial Info's project report.
As it reduces its coal-fired footprint in Florida and North Carolina, Duke is implementing solar projects in both states. Examples include the 69.3-MW Maiden Creek solar project in Maiden, North Carolina, which will use an estimated 315,120 Jinko solar modules on a single-axis tracking system. SOLV (San Diego, California) is providing EPC services on the project, which kicked off late last year and is expected to wrap up in the second quarter. For more information, see Industrial Info's project report.
In Florida, Duke is constructing several 74.9-MW solar facilities, such as the Charlie Creek solar project near Zolfo Springs, about 70 miles southeast of Tampa, which will use an estimated 235,000 First Solar (NASDAQ:FSLR) Series 6 thin-film modules on a single-axis tracking system. Construction is expected to kick off this summer and be completed in first-quarter 2022. For more information, see Industrial Info's project report.
Outside of these states, Duke is implementing wind power, such as its plans for a wind project in Ledyard, Iowa. The facility will use 56 4.2-MW wind turbines to generate about 235 MW. Construction is planned to begin later this year, taking about a year to complete. For more information, see Industrial Info's project report.
Duke also has about $400 million in active hydropower projects in South Carolina and Indiana. At its Bad Creek pumped-storage hydropower station in Salem, South Carolina, Duke is underway with the upgrade of four turbines. The turbines are being replaced and the generators rewound to increase generation by 200 MW and extend the service life. The project kicked off in the first half of 2019 and is expected to be completed in late 2022. For more information, see Industrial Info's project report.
In Indiana, Duke is approaching completion of a generator uprate project at its Markland Hydropower Station near Florence. The project entails uprating three 22-MW General Electric (NYSE:GE) (Boston, Massachusetts) Kaplan turbine-generators by replacing the runners and rotor rewinds to increase generation by 3 MW each. The project kicked off in third-quarter 2017 and is expected to be completed this summer. For more information, see Industrial Info's project report.
Duke reported a fourth-quarter 2020 net loss of $77 million, primarily reflecting the settlement of a coal ash case in North Carolina. Adjusted earnings were $777 million for the just-passed quarter, compared with adjusted earnings of $678 million for the corresponding quarter of 2019.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
